Artificial intelligence is no longer a futuristic construct; it has become a defining force in reshaping economies, ecosystems, and human lives. At this moment, AI’s potential is vast, making it a powerful new tool to embrace for collective progress, underscoring the need for funding AI for social impact.

Today, the Patrick J. McGovern Foundation announces a total of $73.5 million in charitable contributions in 2024 to reinforce its proactive commitment to innovation and social impact. In collaboration with civil society, academia, and industry, the Patrick J. McGovern Foundation continues to center human dignity, equity, and shared purpose to create a world where funding AI for social impact strengthens resilience, provides sustainable solutions, and promises meaningful change.

“The way we choose to envision, develop, and govern AI technologies today will fundamentally shape the future of our society. The stakes couldn’t be higher,” said Vilas Dhar, President of the Patrick J. McGovern Foundation, regarding funding AI for social impact. “This is not a moment to react; it’s a moment to lead. We believe that by investing in AI solutions grounded in human values, we can harness technology’s immense potential to benefit communities and individuals alike. AI can amplify human dignity, protect the vulnerable, drive global prosperity, and become a force for good.”

This transformative investment spotlights three strategic areas: partnerships with 144 nonprofit, academic, and governmental organizations worldwide; the development and delivery of AI solutions built for long-term societal benefit; and the creation of institutions designed to address the opportunities and challenges of the AI era. Through these initiatives, the Patrick J. McGovern Foundation works alongside an established ecosystem of leaders and partners to showcase how AI can be a catalyst for progress.

The Patrick J. McGovern Foundation’s grant portfolio includes more than 11 countries, supporting organizations that leverage data science and AI to drive tangible change in a variety of areas with urgency, including climate change, human rights, media and journalism, crisis response, digital literacy, and health equity. Beyond funding, the Foundation equips nonprofits with the tools and training needed to understand and implement public-sector-ready AI solutions. Today's announcement strengthens an ecosystem of partners working to center the human experience–our dignity, our safety, and our happiness–in the regulation, development, and deployment of emerging technologies.

Read the full article about AI innovation for social impact at Business Wire.